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CBRE Announces $116.5 Million Sale of Hudson Lights in Fort Lee, NJ

CBRE announced today the $116.5 million sale of Hudson Lights, a 276-unit Class A apartment community located in Fort Lee, NJ. The CBRE team, led by Jeff Dunne, Stuart MacKenzie, Eric Apfel, Zach McHale, Fahri Ozturk, Richard Gatto, and Travis Langer, represented the seller while also procuring the buyer, a joint venture between Skylight Real Estate Partners and PCCP LLC.

Hudson Lights features a 91-walk score benefiting from its prime location in Fort Lee’s pedestrian-friendly downtown where residents have immediate access to numerous dining, shopping and entertainment options. Completed in 2016, the property features an outdoor pool with cabanas, a fitness center with yoga room, resident lounge with billiards and catering kitchen, and a children’s playroom.

“The property’s exceptional performance this year is indicative of Fort Lee’s resurgence coming out of the pandemic,” said CBRE’s Stuart MacKenzie. “We expect this trend to continue given Fort Lee’s proximity to New York City while also providing convenient accessibility to the greater region.”

CBRE’s Jeff Dunne added, “Skylight and PCCP will bring Hudson Lights to the next level with
expanded and upgraded amenities plus the addition of small upgrades in the units.”

Located at the entrance of the George Washington Bridge along New Jersey’s Gold Coast, Hudson Lights offers seamless access to Midtown Manhattan in under 20 minutes as well as the greater Metro New York area. Fort Lee has emerged as a preferred destination for young professionals and families seeking affordability with top-rated public schools while still being proximate to New York City.

CBRE Institutional Properties is currently marketing for sale: 15 Bank Apartments, a 501-unit apartment community in White Plains, NY; Rutherford Station Apartments, a 108-unit apartment community in East Rutherford, NJ; Halstead Milford, a 246-unit apartment community in Milford, CT; and Six Points at Bloomfield Station, a 176-unit apartment community in Bloomfield, NJ.

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